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Crypto traders are shocked that Solana whales can ditch their cheaply bought SOL as well

Source: A video screenshot, Youtube / All-In Podcast

A widespread video from a podcast discussion between several well-known venture capitalists about their investments in Solana’s native token, SOL, caused a stir in the crypto community as many question their intentions.

The clip, which belongs to an episode of the all-in podcast nearly a month old, showed investors how Social capital Founder Chamath Palihapitiya and Craft company General Partner David Sacks and only showed a short section where investors joked and laughed at their investments in SOL.

Questions asked in the short video included things like, “But you’re holding up, right?” To which Palihapitiya responded with “ish”. Further on in the video, Palihapitiya also asked “Do you think I will buy anything at all without a discount” before saying, “Everything is a discount”.

The video was retweeted by several members of the Bitcoin (BTC) and Ethereum (ETH) community, with many criticizing the investors for their apparent disinterest in the project as well as their lack of concern for other investors who aren’t necessarily coins with a discount able to buy.

Among the many people who shared the video clip on Twitter was popular crypto trader @DegenSpartan, who commented that “It is wrong to ever think that you are playing on par with one of the VCs.”

Meanwhile, as other Twitter users pointed out, the short video clip – less than a minute long – did not give a very good picture of what the discussion between investors was really about.

The full version of the video, which was uploaded to the all-in podcast’s YouTube channel, featured a more nuanced discussion in which investors spoke about the merits of Solana and their investments in it.

For example, David Sacks explained how his company has been exposed since the early days of Protocol through an investment in the crypto-investment firm Solana Multicoin capital, and that they now have “roughly $ 1 billion” in income from the investment.

In addition, Sacks was also heard in the video that there is “a lot of smart money in Silicon Valley that is betting on a flippening where Solana could ultimately overtake Ethereum as the preferred platform”. [for smart contracts]“And that convinced him to stick with the business.

Ethereum differs from Solana in that it is a decentralized network, while Solana experienced a serious outage in September when the network was offline for 17 hours.

Furthermore, regarding the timeframe of investing like the one in SOL, Chamath Palihapitiya stated that the timeframe depends on whether it is viewed as “an investment or an idea you love so much,” adding, “If it is the latter you should never sell it. “

And while some investors feel discouraged by the fact that larger investors got in at discounted prices long before they did, some industry watchers are still optimistic about Solana’s future.

Based on the responses of a panel of 50 fintech specialists, a report was published by on Thursday presented average price projections for SOL of $ 235 for late 2021, $ 1,178 for late 2025, and $ 5,057 for late 2030.

At 15:27 UTC, SOL, number 4 by market capitalization, was trading at $ 239, up nearly 6% in the last 24 hours and 30% in the last 7 days. The price soared over 16,800% in one year.

SOL price table:


It was noteworthy, however, that the panelists’ predictions fluctuated widely. Among the most pessimistic was the trading platform CEO Coinmama, Sagi Bakshi, who quoted a price of $ 50 in 2030, said he “has no idea if Solana will survive”.

On the other side of the spectrum was Daniel Cawrey, chief operating officer Cypherpunk stockswho forecast a price of $ 20,000 in 2030, saying “It scales better than Ether and already has stakes”.

Meanwhile crypto exchange octopus also stated in a report today that “SOL continues to attract increasing attention from new and existing market participants – especially from institutions.”

“Since SOL appears to remain in its third wave of ‘pricing’, it could be argued that SOL will climb significantly higher in the next year,” the report said, suggesting a target price of $ 400-500 before December and the first Quarter of next year.

Check out the full episode below:

Learn more:
– SOL rallies blocked due to strong technical data, all-time high in total value
– Solana opposes the sale as details of a network outage emerge

– Multi-Chain Future brings multiple competitors to Bitcoin & Ethereum – analysts
– Ethereum, Solana, Polygon & Co form a new hot market for blockchains

– Ethereum developers on why they don’t see Cardano & Binance Chain as rivals
– Solana founder on critical DeFi challenges and how to fix them

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